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Lockheed Martin LMT Aeronautics — CapEx

Other segment segments

Space
$366M-19.6%
RMS
$243M+5.7%
MFC
$235M-11.3%

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Other financials

Income statement

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Revenue$20.1B+10.5%
Gross profit$2.4B+233%
Operating income$2.5B+231%
Net income$1.8B+437%
EPS (diluted)$7.94+444%

Balance sheet

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Cash & equivalents$3.8B+193%
Total debt$20.5B-5.1%
Total equity$8.8B+64.4%
Total assets$62.5B+6.1%

Cash flow

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Operating cash flow$3.2B+1,509%
CapEx$318.0M-9.4%
Free cash flow$2.9B

Valuation

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Market cap$132.5B+34.8%
Enterprise value$149.25B+25.8%
P/E21.1×-2.3×
P/S1.7×+0.4×

Profitability

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Gross margin11.8%+3.6pp
Operating margin11.9%+3.6pp
Net margin8.2%+2.3pp
FCF margin11.3%+6.5pp

Returns & leverage

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Return on equity89.2%+16.1pp
Debt / equity2.3×-1.7×
Current ratio1.2×+0.2×

Where this comes from

Reported directly by Lockheed Martin in its filing.

Tagged under the XBRL concept us-gaap:PaymentsToAcquireProductiveAssets.

The official record: Lockheed Martin’s 10-K, filed January 29, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Lockheed Martin's aeronautics — capex?
Lockheed Martin (LMT) reported aeronautics — capex of $125.75M in Q4 2025.
How has Lockheed Martin's aeronautics — capex changed year-over-year?
Lockheed Martin's aeronautics — capex decreased by 15.2% year-over-year, from $148.25M to $125.75M.
What is the long-term trend for Lockheed Martin's aeronautics — capex?
Over 4 years (2021 to 2025), Lockheed Martin's aeronautics — capex has grown at a 1.3% compound annual growth rate (CAGR), from $477M to $503M.
What does aeronautics — capex mean?
This represents the funds used by the segment to acquire, upgrade, and maintain physical assets such as property, plants, and equipment. It reflects the level of investment in the infrastructure required to support long-term production and growth.